Westchester Co. SNF Finds New Owner
Evans Senior Investments arranged the real estate sale of a skilled nursing facility in New Rochelle, New York, about 15 miles from Manhattan. The transfer of the operations is still pending, which takes a longer time in the Empire State than in most other states. Originally built in 1965, the facility is licensed for 60 beds. After owning and operating the facility for more than 30 years, the independent seller decided to exit the skilled nursing industry. There were several competitive offers for the facility, but the eventual buyer was a New York-based company. The purchase price was not disclosed. Read More »
Blueprint Handles United Church Homes Sale
United Church Homes sold its original senior care property in Upper Sandusky, Ohio, as part of its initiative to focus on lower acuity seniors housing services. First established in 1920 to house seven residents, The Fairhaven was later redeveloped and subsequently expanded into a large senior care campus featuring 99 licensed skilled nursing beds with an additional six independent living units. The value-add property offered different paths to achieving improved performance, and Blueprint Healthcare Real Estate Advisors procured seven competitive offers from qualified acquirers with existing Ohio-based operating platforms. Vancrest Health Care Centers, a family-owned operator of 11... Read More »
Berkadia Arranges Acquisition Financing through Fannie Mae
Berkadia helped finance the acquisition of Prairie House, a 105-unit assisted living/memory care community in Broken Arrow, Oklahoma. Managing Directors Chris Cain and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured $16.74 million in acquisition financing through Fannie Mae on behalf of the buyer, Wichita, Kansas-based Legend Senior Living. The 10-year loan featured a 5.68% interest rate, a 30-year amortization schedule and a 65% loan-to-value ratio, which puts the purchase price at $25.75 million, or $245,300 per unit. Built in 2017 with 73 assisted living and 32 memory care units, Prairie House is Legend’s fourth Tulsa-area community and 11th community in the state. The... Read More »
Haven Senior Investments Handles Family Owner/Operator Exit
Haven Senior Investments, a faith-based advisory and brokerage firm specializing in seniors housing transactions, closed the sale of a long-standing, family-owned assisted living community in northern Missouri. The transaction was handled by Robin Gestal, Haven’s COO. Opened in 1996, the community features 40 units and 67 beds across 24,000 square feet. The local ownership wished to retire and sold the community to a private equity company headquartered in New York. The PE buyer has a portfolio of senior living communities across the country, but this acquisition marks its first foray into Missouri. Additionally, the company has plans for another strategic acquisition in the region next... Read More »
Continuum of Care Portfolio Sells in Indiana
Evans Senior Investments sold a portfolio of three senior care assets in Indiana. Built in 1982 and 1995, the properties offered a continuum of care for seniors housing and skilled nursing residents. One property was a CCRC with 34 seniors housing units and 137 licensed skilled nursing beds (operating at 128 beds). The SNF portion was consistently occupied in the low-90s, while the seniors housing portion hovered in the high-80s and low-90s. The other two were located on the same campus and offer a combined 63 independent living, assisted living and memory care units and 127 licensed skilled nursing beds. Again, the SNF portion saw stronger census, from the mid- to high-80s, while the... Read More »Schedule a demo
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